☂️ States require bonds for crypto companies

Despite the idea that cryptoassets are unregulated, some states are making surety bonds a requirement. Investor protection laws require crypto companies to post bonds for their business in order to reduce the chance of consumer losses. In New York and Connecticut, the bond amount involved in each case would be based on the company’s transaction volume. In North Carolina and Washington, cryptocurrency bond amounts range from $150,000 to $250,000, and $10,000 to $50,000 respectively.